Knowling ’77 Named CEO of Vercuity

• April 28, 2005
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Vercuity, a leading telecommunications expense management provider, has
announced that Wabash alumnus Robert E. Knowling, Jr., will join the
company as its Chief Executive Officer. Mr. Knowling comes to Vercuity
with over 20 years of experience in the telecommunications industry. His
leadership skills and depth of experience will contribute significantly
to Vercuity’s continued growth as a recognized market innovator in the
TEM space.

Mr. Knowling began his career as a Chief Executive Officer at Covad
Communications in 1998, then SimDesk Technologies, and most recently the
NYC Leadership Academy, an independent non-profit corporation created by
Chancellor Joel I. Klein and Mayor Michael R. Bloomberg. The NYC
Leadership Academy is chartered with developing the next generation of
principals in the New York City public school system.

Prior to Covad, Mr. Knowling was Executive Vice President of Operations
and Technologies at U S WEST Communications (now Qwest) and Vice
President of Network Operations at Ameritech. Mr. Knowling is also
currently the Chairman of The Immune Response Corporation, and is a
member of the Board of Directors at Hewlett-Packard Company, Heidrick &
Struggles International, Inc. and Ariba, Inc.

Knowling is a former member of the National Association of Wabash Men
Board of Directors. He also chaired the College's annual fund during its
tremendous growth phase as part of the successful Campaign for
Leadership. While a student at Wabash, Knowling majored in religion and
was a member of the football and basketball teams, and was a member of
the Malcolm X Institute.

David Walsh, Vercuity’s Chairman, said “Mr. Knowling was selected based
on his natural leadership abilities, his knowledge of the industry and
his track record of leading companies through periods of high growth.
His straightforward style and tremendous energy level have continually
won the respect of employees, customers and the marketplace. We are very
pleased to have attracted such a seasoned executive to our company, and
it says a lot about where this industry is going.”

“It is exciting to join Vercuity at this time; when it is poised to
expand and add increasing capabilities to its platform,” Mr. Knowling
said. “Vercuity goes beyond helping its customers understand their
communications spending today; it also is uniquely positioned to help
customers take advantage of new communications choices tomorrow.
Vercuity is positioned for tremendous growth as it nears the completion
of the integration of companies acquired over the last year. I look
forward to working with Vercuity’s team, customers, and partners to
drive even greater value in the months ahead.”

“Over the last year, Vercuity has worked hard to build one
well-integrated operating entity from the five companies we acquired in
2004,” said Ethan Ayer, a Partner at One Equity Partners. “The Board
would like to thank Sean Erickson for his leadership in accomplishing
that goal.”

Vercuity is a leader in telecommunications expense management, providing
business process outsourcing services to over 100 of Fortune 500 and
many Global 2000 companies. Headquartered in Denver, the company employs
450 people and maintains operations, sales and service offices across
the country. Vercuity is owned by One Equity Partners LLC, a private
equity arm of JPMorgan Chase & Co., and several private investors.
Vercuity offers comprehensive telecommunications expense management
solutions to large and medium enterprises and organizations enabling
them to master their telecommunications challenges.

Mr. Knowling will be based in Denver, where his family lives and where
he made his home while an executive with US West.